Invest in DASH in 2022
Over the past couple of years, more users have become wary of their online privacy. Some have gone to huge lengths to improve this as much as possible, and that includes looking for cryptocurrencies that maximize this. One of these is DASH, which has emerged as a prominent altcoin.
If you’re thinking about investing in DASH, it’s crucial that you do a little research beforehand. This guide will show you everything you need to know about buying the currency and identify whether it’s safe.
Best Way To Invest in DASH in 2022
Compared to other cryptocurrencies on the market, your investment options are somewhat limited with DASH. Nonetheless, you can find it in a few places – and you’ll find the best providers in the table below.
What Is DASH - Quick Overview
Name and ticker DASH (DASH)
Date launched January 2014
Circulating supply | max supply: 10,551,760 | 18,900,000
Blockchain network Bitcoin blockchain
Creators Evan Duffield, Kyle Hagan
Use-cases Remittance, spending, trading, security
What Is DASH – Explained
DASH is a cryptocurrency that was launched in 2014 on the Bitcoin blockchain. Since then, it has been ever-present in the crypto space and has become a well-known name among those with an interest in investing.
At the time of writing in January 2022, DASH is the 81st-largest cryptocurrency in the world by market share. It takes up 0.06% of the crypto space, with a market cap of over $968.7 million.
The price of 1 DASH to USD stayed relatively low up until 2017 when things began to really pick up. In December of that year, the currency shot up to an all-time high that exceeded $1,550.
Since then, DASH has come (relatively) crashing down to earth. On 27th January 2022, its price hovered around the $90 mark. The currency has had several price spikes since its all-time high but has never replicated the 2017 surge as of yet.
The Early Days of DASH
Evan Duffield and Kyle Hagan originally called their DASH cryptocurrency project Darkcoin. Needless to say, though, this had negative connotations – hence the name change to DASH. Either way, the end goal was simple: create a scalable and secure cryptocurrency while simultaneously ensuring that it was accessible to all.
In 2017, DASH officially went live. Since then, both founders have left the project; Hagan left in 2014, while Duffield stepped down from his CEO role towards the end of the currency’s first year in existence.
What’s the Purpose of DASH?
DASH’s cryptocurrency is designed to help users send money regardless of where they are in the world and to do so discreetly – while also not needing to pay significant fees. The system also aims to solve issues related to scalability, which has been a huge challenge for some of the largest cryptocurrencies as they’ve grown.
Beyond that, though, DASH has several benefits for businesses. The website claims that it can settle transactions in less than a second, while costs per transaction are less than $0.01 each go. The network also helps with regulatory compliance, including know your customer (KYC) and anti-money laundering.
Does DASH Have Any Famous Backers?
These days, it’s not uncommon to see celebrities talk about cryptocurrencies. Many high-profile individuals have also allowed fans to pay for items using cryptocurrencies, while others have simply advocated for them. In some cases, we’ve also seen famous people start their own projects.
Does DASH Have a Large Following on Social Media?
For every cryptocurrency project, the best way to build a connection with their fans is to have a presence on social media. DASH has acknowledged this and built profiles on most of the largest social networks.
The DASH subreddit has 44,000 members and is a great way to connect with others who believe in the project. Its Twitter account is even bigger, with more than 420,000 followers at the time of writing.
DASH is also present on YouTube, with 24,000+ subscribers – along with Facebook, where almost 35,000 people have liked its official page.
Elsewhere, you can find DASH on LinkedIn and Instagram.
How To Buy DASH
As we mentioned earlier on this page, buying DASH can be a little tricky compared to some of the other cryptocurrencies on the market. But at the same time, you shouldn’t have too many issues when you find a place to go.
The primary platform that most people will use to purchase DASH is a cryptocurrency exchange. On these, you can choose to buy tokens with fiat money; you’ll own the coins outright and should store them in a wallet to keep them safe.
When investing in cryptocurrencies, beginners often notice that they’ve got the option to buy derivatives instead of the coin in and of itself if they prefer. If you’ve got a little experience, doing this is probably easier. Compared to crypto exchanges, you won’t need to deal with the technicalities of using a cryptocurrency wallet.
If you’d like to purchase DASH derivatives, you’ll most likely use a brokerage instead of an exchange. You cannot, however, use what you buy to purchase goods elsewhere; it’s purely for trading purposes.
One of the biggest brokerages that sell DASH is eToro. To make a purchase on this platform, you’ll find a quick run-through of the steps below:
Sign up for an eToro account. To verify it, you’ll need to pass a KYC check – which will involve submitting a copy of your photographic ID (i.e. passport/driving license) and proof of where you live (e.g. a utility bill).
Once your account is verified, go to the DASH page and hit the “BUY” button.
Choose how much DASH you want to buy and select the payment method you’ll use for this.
Confirm your transaction.
You can buy DASH with a variety of payment methods, and the most widespread ones are debit/credit cards and bank transfers.
How To Sell DASH
Selling DASH is relatively straightforward. If you bought derivatives from a brokerage, you could complete this directly from your account – without needing to transfer anything else. Below, you’ll find the steps for doing this; again, we’ll use eToro as an example.
Sign in to your eToro account.
Go to the DASH page and click on the “SELL” option.
Choose the amount of DASH you’d like to sell, and complete your transaction.
If you bought coins outright, you could sell your tokens on a cryptocurrency exchange. To do this, you’ll need to move your coins from the wallet you stored them in over to your exchange account. From there, look for the option to sell; this will vary depending on your chosen platform.
After that, select how many DASH tokens you’d like to sell. Verify the transaction, and everything should be completed.
Alternative Ways To Invest in DASH
The most convenient ways to invest in DASH are cryptocurrency exchanges and brokerages. However, they’re not your only options; like traditional stocks, you can choose from countless methods to make a profit from the currency – some of which are arguably more convenient for beginners.
Below, you’ll find four of the alternative ways you can invest in DASH.
ETFs: ETF stands for “exchange-traded fund”. These funds usually involve a mixture of assets and/or stocks, plus more. You’ll often need to pay an annual fee for these.
DASH Trusts: Trust funds involve someone else holding your assets for you. Like ETFs, you’ll need to pay an annual fee.
Staking: Staking involves taking part in the verification process for crypto transactions. You’ll typically receive rewards when you stake your coins, making it a great way to potentially earn passive income over time.
Cryptocurrency Wallets and Apps: In some cases, you don’t even need to remove your coins from your wallet to invest. Many apps will have built-in exchanges where you can easily exchange your coins for another cryptocurrency.
Is It Safe To Invest in DASH Right Now?
Before we continue, we should warn you that cryptocurrency markets are hugely volatile; as you saw earlier, DASH is one of the clearest examples of this. Buying any cryptocurrency carries significant risks, and you could lose a lot of money if you aren’t careful. Never invest more than you can afford to lose.
From an investment perspective, we wouldn’t call DASH a “safe” investment if you’re referring to making a profit. Its price fluctuates regularly, and there’s no telling how it will perform in the future. But then again, you could say the same for all coins; one thing DASH has going for it is that it has a clear purpose. As more people become conscious about online security, its value could increase.
If you choose to invest in DASH, you must make sure that you use a reputable platform to make your purchase. The best choice is to use one of those that we’ve mentioned in this guide.
Nowhere is 100% foolproof, though, and you should take additional precautions to keep you and your coins safe. Below, we’ve outlined our top recommendations.
Always enable two-factor authentication (2FA) on your accounts and wallets. Doing so will add another layer of security.
Never ask for help away from official websites and forums. If you see a suspicious link or email, do not click on it and report the content.
Where possible, use a cold wallet to store your coins – especially if you plan on holding them for the long term. Since these require offline verification, it’s harder for a hacker to get into your account.
Never give anyone your login details. If you think someone else has them, change them as soon as possible.
Only give the necessary documents for KYC checks. You shouldn’t be asked to hand over your bank details and whatnot; if you are, the platform isn’t safe to use.
Take extra care when typing in domain names to ensure that everything is correct.